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What is the value today of $1,500 per year, at a discount rate of 11 percent, if the first payment is received 7 years from

What is the value today of $1,500 per year, at a discount rate of 11 percent, if the first payment is received 7 years from now and the last payment is received 24 years from today? Multiple Choice $6,052.87 $6,176.40 $11,652.42 $2,753.61 $6,053.84

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